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As the ways that we work and live continue to change, many seniors are questioning retirement trends such as the expectation to downsize. For some retirees, homesteading is a better choice, and it provides the perfect opportunity to slow down, nurture their hobbies, connect with loved ones, and enjoy a sprawling property. The goal of being more self-sufficient can be a highly practical and personally satisfying way to live a life that is closer to nature. If this sounds like your dream, Raven’s Rock Real Estate Services hopes this guide can help turn your homesteading hobby into a retirement plan.
Expand your search
As you search for your ideal retirement property, it can help to think outside the box. Because you may not be bound by considerations such as convenience or proximity to services, you can focus on making sure you have plenty of space – for both your loved ones and your homesteading hobbies. You’ll be creating your own lifestyle, so you can expand your search to include properties that are outside urban or suburban areas.
There are many things to consider when choosing a homesteading property, and how you go about house hunting or choosing a plot of land to buy will depend on your own personal vision, needs, as well as what you plan to grow or raise on your property.
Hone your skills
Homesteading is different for everyone, and it can even be done in urban areas. It simply comes down to a self-reliant lifestyle, and you can start moving in this direction wherever you are. One of the most useful aspects of homesteading is knowing how to grow and preserve your own food. If you haven’t already, consider planting a backyard veggie garden or a mini-orchard of fruit trees in containers that can be transported when you move. If you eat meat, consider learning more about raising chickens, hunting or fishing. The skills that you develop now will pay dividends once you’re on your new property.
If you already have homesteading skills such as baking, canning, sewing, hobby farming, or raising livestock, you are more self-reliant than most. You’ll be well-prepared to live in remote or rural areas if you choose to do so, but each property has its own quirks and necessities. Once you’ve narrowed down your search to a specific area or plot of land, consider honing in on a few skills that will fill in the gaps that are specific to where you’ll be living.
Make a plan
Getting your finances in order is an important step in making your homesteading dream a reality. If you’re not cashing out on a pension or retirement funds, you may need to research mortgage options and figure out what type of payment you can afford. It may also be a good idea to talk to your accountant. Depending on your state, you may be eligible for tax exemptions as a homesteading retiree.
You’ll need to consider timing as well. Consult with an agent from Raven’s Rock Real Estate Services to get an idea of whether your current home will sell quickly, as well as how much time it could take to close on a new property. If you’re interested in moving to a rural area, it can be more time consuming than shifting to a new home down the road, and you may need extra time to wrap everything up. If this is the case, ask your realtor about options such as an extended closing.
Homesteading can be a great way to stay active, self-reliant, and connected to friends and family in retirement. Although it might seem daunting at first, you can pursue this dream without stepping too far outside your comfort zone. Just be sure to get your financial ducks in a row, prepare the best you can, and start developing a plan early.
Are you preparing to upsize into a new property? Let the experts at Raven’s Rock Real Estate Services help you find the perfect home for your retirement dreams. Call today for an appointment! 818-355-2850